§ 1321. Exemption from certain provisions.

(a) Notwithstanding any other provision of this chapter, a foreign
corporation conducting activities in this state which is authorized
under this article, its directors, officers and members, shall be exempt
from the provisions of paragraph (e) of section 1317 (Voting trust
records), subparagraph (1) of paragraph (a) of section 1318 (Liabilities
of directors and officers of foreign corporations), and subparagraph (2)
of paragraph (a) of section 1320 (Applicability of other provisions) of
this article if such provision would otherwise apply:

(1) The corporation is a non-charitable corporation under this
chapter; its principal activities are conducted outside this state; the
greater part of its property is located outside this state; and less
than one third of its members are residents of this state; or

(2) The corporation is a charitable corporation under this chapter;
its principal activities are conducted outside this state; the greater
part of its property is located outside this state; and less than ten
per cent of its annual revenues is derived from solicitation of funds
within this state.